Stocks drift lower as economy slows

CBS.MarketWatch.com

NEW YORK (CBS.MW) - U.S. stocks drifted lower Friday amid evidence that U.S. economic growth cooled to its slowest pace in eight years in the second quarter. JDS Uniphase tumbled after reporting the biggest full-year loss in U.S. corporate history. See full story.

JDS sinks after $7.9 billion Q4 loss, job cuts

SAN JOSE, Calif. (CBS.MW) -- JDS Uniphase fell as much as 17 percent Friday after the No. 1 maker of fiber-optic network gear revealed a fourth-quarter loss of $7.9 billion and raised its job cuts to 16,000 amid plunging demand and shrinking margins. See full story.

Consumer sentiment eases in July

ANN ARBOR, Mich. (CBS.MW) - Consumers were a bit more pessimistic about the economy in late July than they were a month or even two weeks earlier, according to media reports quoting researchers at the University of Michigan. See full story.

US GDP up 0.7% in second quarter

WASHINGTON (CBS.MW) - The U.S. economy grew at its slowest pace in more than eight years in the second quarter, the Commerce Department said Friday. See full story.

Newborn stem-cell harvesting deemed suspect

SAN FRANCISCO (CBS.MW) -- As the political controversy rages over stem-cell research on embryonic tissue, parents already are paying to harvest such cells from their newborns for future use -- in a procedure of highly contested value. See full story.

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